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Jim Moran Joins North Bridge Growth Equity

Former Founder and CEO Adds Extensive Operations and Strategic Experience to Team

WALTHAM, Mass., December 4, 2013-- North Bridge (www.northbridge.com), an active partner for entrepreneurs, providing seed-to-growth financing for innovative companies disrupting big markets, today announced Jim Moran will join, effective immediately, the North Bridge Growth Equity team as General Partner leveraging his 20 years of operating experience in building technology companies to scale.

North Bridge Growth Equity has two funds with more than $1.1B of committed capital having just closed its second fund in October with over $580 million in commitments. To date, the team has made 14 investments out of its first fund, most recently investing in Dyn, an infrastructure as a service company that provides Internet DNS and email delivery services; Jive Communications, a provider of cloud-based VoIP and related communications services; and Valence Health, a provider of patient-centered, data-driven solutions for quality care and population management.

Jim joins existing general partners: Matt Blodgett, Doug Kingsley, Mike Pehl and Russ Pyle with an extensive background in entrepreneurship and operations. Before joining North Bridge Venture Partners, Jim was the CEO of Covergence, a developer of software-based session border controllers for delivering voice-over-IP and Unified Communications. Jim orchestrated the acquisition of the company by Acme Packet, now part of Oracle (ORCL) in 2009 generating a 6x return for North Bridge. Prior to that, Moran co-founded edocs, Inc. and built it into the leading provider of web self service and online billing & payment solutions to the Global 2000. edocs was sold for approximately $150 million in 2005 to Siebel Systems, now also part of Oracle. Additionally, Jim was an early investor, board member & Chief Operating Officer of Virtusa (VRTU) growing it into a global leader of information technology services with over $175 million in revenues. Earlier in his career, Jim played a key role in Checkfree Corporation’s early growth driving revenues from approximately $25 million to over $250 million and a successful IPO in 1996. Checkfree was acquired by Fiserv (FISV) in 2007.

“There’s always been a great deal of synergy between the Venture Partners and Growth Equity teams at North Bridge,” said Ed Anderson, managing general partner at North Bridge. “Jim's two decades of operational experience in building tech companies to scale – an important element of successful growth equity investing – builds on this critical expertise within our Growth Equity team.”

“As a former Venture Partner, Jim has been involved in sourcing and vetting deals for us from day one,” said Doug Kingsley, a managing director at North Bridge Growth Equity. “Going forward, his network and experience as a founder and CEO of four venture-backed startups growing all of them to successful outcomes – two IPOs and two acquisitions -- will prove invaluable to technology companies and entrepreneurs at various stages of their growth as they look to scale and expand into market leaders. We’re thrilled to have Jim as a part of the Growth Equity team.”

North Bridge Growth Equity looks to create compelling, proprietary investments in growth companies in technology and technology-enabled industries.

About North Bridge:

North Bridge Venture Partners and North Bridge Growth Equity are active partners with entrepreneurs providing seed-to-growth financing for innovative companies looking to disrupt big markets. With $3.5 billion in capital currently under management, North Bridge partners, many founders themselves, work with entrepreneurs to apply their expertise in the creation, operation and scaling of market-leaders. The firm has funded more than 170 companies creating many billions in market value. Among those firms are Acquia, Actifio, Cool Planet, Demandware, Mavenir Systems, Paydiant, Proto Labs, Reval and Starent Networks. The firm has offices in Waltham, MA and Palo Alto, CA. To learn more about North Bridge go to http://www.northbridge.com.

Contact:
North Bridge
Eric Jones, 917-488-4214
ej@northbridge.com


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